In Germany, it is common for Credit Bureau to be checked before a loan is approved. The Protection Association for General Loan Protection stores data on current accounts, loans, cell phone contracts or installment purchases from every citizen living in Germany.
If a customer becomes noticeable due to non-payment, he will receive a negative note. With such a negative characteristic, the credit rating deteriorates and loans can be refused. What only helps in such cases is a credit-free credit comparison.
What are Credit Bureau-Free Loans?
Credit Bureau-free loans create a bit of confusion, because they don’t actually exist in Germany. But there are loans despite Credit Bureau entries. However, not every bank participates. For this reason there are intermediaries who can actually bring such loans to the man or woman.
They have the advantage that they have been active in this sector for many years and know the banks that also lend to people with poor credit ratings. A Credit Bureau-free credit comparison gets to the point, because here too there are differences that can affect interest rates or other conditions.
Credit Bureau-free credit comparison – what should be considered?
The comparison is basically free of charge. A possible request to the credit intermediary must not cost money. However, it goes without saying that fees have to be paid when concluding a contract. But anyone who gets such a loan will certainly be happy to pay it. Unfortunately, it happens from time to time that intermediaries require a prepayment.
Such offers should be ignored right away, because they are untrustworthy and loan seekers usually do not get a loan or their money back. Fortunately, most financial service providers work for their customers and not against them. Another alternative to the Credit Bureau-free loan is a Swiss loan. There is no Credit Bureau query here. Financial service providers can also arrange this loan without obligation.